John Wiley & Sons, Inc. · NYSE:WLY
John Wiley & Sons — Q2 2015 Earnings Presentation
11 slides from John Wiley & Sons's earnings presentation, Dec 9, 2014
Slide 1: Second Quarter Fiscal 2015 Earnings Update
Second Quarter Fiscal 2015 Earnings Update December 9, 2014
Slide 2: About Wiley / Safe Harbor Statement
About Wiley Wiley is a global provider of knowledge and knowledge-enabled services that improve outcomes in areas of research, professional practice and education. Through its Research segment, the Company provides digital and print scientific, technical, medical, and scholarly journals, reference w
Slide 3: Performance Summary
Performance Summary (millions) Q2 2015 Q2 2014 Change Change (ex-FX) Revenue $477.0 $449.2 6% 6% Adjusted Operating Income* $76.0 $70.3 8% 10% Adjusted EPS* $0.90 $0.84 7% 8% • Q2 Revenue of $477 million (+6% at constant currency) – Growth fueled by journals (subscriptions +2% plus $10M for a backfi
Slide 4: Research
Research Change (millions) Q2 2015 Q2 2014 % of Revenue (excluding FX) Journal Subscriptions $168.3 $164.1 64% 2% Funded Access $5.1 $3.9 2% 30% Other Journal Revenue $36.4 $23.5 14% 55% Total Research Communication $209.8 $191.5 79% 9% Print Books $26.8 $31.1 10% (14%) Digital Books $10.0 $9.4 4% 6
Slide 5: Professional Development
Professional Development Change (millions) Q2 2015 Q2 2014 % of Revenue (excluding FX) Print Books $52.7 $59.8 50% (12%) Digital Books $14.5 $13.9 14% 3% Online Test Preparation and Certification $5.5 $4.3 5% 30% Other Knowledge Services $6.5 $5.9 6% 10% Total Knowledge Services $79.2 $84.0 75% (6%)
Slide 6: Education
Education Change (millions) Q2 2015 Q2 2014 % of Revenue (excluding FX) Print Textbooks $41.8 $45.2 39% (6%) Digital Books $8.5 $9.4 8% (10%) Total Books $50.2 $54.6 47% (7%) Custom Products $16.4 $14.8 15% 11% Course Workflow Solutions (WileyPLUS) $18.4 $15.9 17% 16% Education Services (Deltak) $19
Slide 7: Shared Services Costs
Shared Services Costs (millions spent) Q2 2015 Q2 2014* Change (excluding FX) Distribution and Operation Services $22.4 $25.3 (12%) Technology and Content Management $59.5 $59.8 (1%) Finance $12.8 $13.5 (5%) Other Administration $27.8 $25.2 10% Total $122.5 $123.8 (1%) • Distribution and Operation S
Slide 8: Other Updates
Other Updates Research Reorganization • Consolidation of all journal-related products and services to enable sharper focus on managing the full journal portfolio • Books-related portion of Research will be supported by Professional Development to achieve operating synergies Third Quarter Restructuri
Slide 9: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Balance Sheet (millions) As of 10/31/14 As of 10/31/13 • Low leverage continues to provide flexibility for Cash and Cash Equivalents $198.9 $149.7 investment and return of Debt $799.5 $647.9 capital Net Debt $600.6 $498.2 • Higher cash use principally Net Debt to EBITDA (
Slide 10: Summary and Looking Ahead
Summary and Looking Ahead • Q2 Revenue +6% at constant currency – Growth fueled by Journals (subscriptions +2%) and digital solutions in Education and Professional Development – 60% of revenue from digital and services (vs. 53% in the prior year period) • Q2 Adjusted Operating Income +10% growth at
Slide 11: Second Quarter Fiscal 2015 Earnings Update
Second Quarter Fiscal 2015 Earnings Update December 9, 2014